Bitcoin reflects Trump’s imminent arrival to the White House

BTCUSD

Bitcoin is moving in an upward trend in the medium term, and prices are likely to continue rising, forming new highs. However, if the support level of $72,950 is broken, the target may shift to the $69,550 level.

Since July, Bitcoin’s price has been positively correlated with Donald Trump’s odds of winning (according to the predictions market, Polymarket). Over the past four months, as Trump’s odds of winning have risen, so has Bitcoin’s value. Bitcoin has become a proxy indicator for the likelihood of Trump’s potential return for a non-consecutive second term, and the reason for this is no secret.

Trump’s platform explicitly supports Bitcoin, presenting policies that would make the United States the most Bitcoin-friendly economy in the world. His plan includes establishing a strong environment for Bitcoin mining. The chart below shows how Bitcoin interacts with Trump’s winning odds compared to Harris.

It’s worth noting that U.S. national debt has surged to $35.8 trillion, positioning Bitcoin as a hedge against currency devaluation. This positive correlation is even more evident in today’s trading, where Bitcoin closely reacted to the potential of Trump winning and his support for Bitcoin.

With the growing U.S. debt and widening deficit, Bitcoin continues to be one of the best-known digital safe havens against monetary and financial risks. Investors should be aware that U.S. economic growth is increasingly reliant on debt, and over time, the Federal Reserve will monetize more of this debt and expand the money supply through an easing monetary policy, driving asset prices higher.

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